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Western Aid to Ukraine Vanishes in Black Hole

After long debates the International Monetary Fund approved a 4-year $17.5 billion loan program for Ukraine, including an immediate $5 billion disbursement. Then the European Commission offered a 1, 8 billion euro aid package to be given out in three trenches.

War and the US Dollar

Although many funerals have been held for the US dollar, still it lives on. On the eve of the collapse of the Bretton Woods currency system, the dollar made up almost 80% of global foreign-exchange reserves (in 1970 it totaled 77.2%, and in 1972 - 78.6%). Then, after the transition to the system negotiated at the 1976 Jamaica Conference, that percentage gradually declined, reaching its lowest level - 59.0% - in 1995. In the wake of financial globalization, the dollar’s positions strengthened again (reaching 70-71% between 1999 and 2001), but then a new decline was seen in the dollar component of global foreign-exchange reserves - dropping below 61% in 2014. Nevertheless, it is still higher than in 1995.

Rating Weapon of Economic War

At the beginning of 2015 economic ratings given to Russia’s economy appeared in the West to cover the previous year, offer the forecasts for the current year and even for the period of 2016-2017. The ratings were presented at the World Economic Forum (January 21-23). Summing them up one can conclude that they look more like politically motivated decisions than economic assessments. It all boils down to one thing – Russia will face a deep economic crisis in the next two-three years. At the same time the leading rating agencies revised the ratings of the whole Russia’s economy and its largest companies, banks and regions.

War and the Dollar

Although many funerals have been held for the US dollar, still it lives on. On the eve of the collapse of the Bretton Woods currency system, the dollar made up almost 80% of global foreign-exchange reserves (in 1970 it totaled 77.2%, and in 1972 - 78.6%). Then, after the transition to the system negotiated at the 1976 Jamaica Conference, that percentage gradually declined, reaching its lowest level - 59.0% - in 1995.

Davos – 2015

The World Economic Forum (WEF) is an independent international organization committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional and industry agendas. The Forum is best known for its annual winter meeting in Davos, a mountain resort in Graubünden located in the eastern Alps region of Switzerland. The organization also convenes some six to eight regional meetings each year. This year its annual winter meeting kicks off on January 21.

New 'lease on life' for bananas under RADA

Banana is on its way back, and the Ministry of Agriculture through RADA is encouraging young farmers among others, to once again grow the commodity. The market has once again opened up in the UK and there is a growing market for Jamaican bananas in Trinidad and Tobago. 
  • Published in RADA
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